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21

Nov '22

Cyprus golden visa in 2022. How to get a Cyprus Golden Visa

Cyprus Golden Visa The Cyprus Golden Visa entitles non European Union nationals to reside in Cyprus as permanent residents with zero limitations. To acquire the golden visa the foreign nationals should invest a minimum of 300,000 euro into the country’s economy.  In this guide about golden visa Cyprus in 2022, we will cover the following topics and how you can get a Cyprus golden visa. Table of contents: What is Golden Visa Cyprus Cyprus golden visa requirements Golden visa Cyprus benefits [...]

18

Nov '22

Immigration permit Cyprus in 2022. Cyprus immigration permit

Immigration permit Cyprus Foreign nationals who want to move abroad to live in Cyprus have to obtain a Cyprus residence permit or a Cyprus immigration permit. A Cyprus residence permit allows persons traveling to Cyprus to legally reside in the country for longer than a short stay (three months). Before obtaining the Cyprus residence permit, you must get visa in your country of residence specifying your reason for travel. [...]

17

Nov '22

Cyprus permanent residency guide in 2022

Cyprus permanent residency Cyprus Permanent Residency, also known as Cyprus Golden Visa, entitles non-EU citizens and their families to reside in Cyprus as permanent residents with no visa limitations. In this comprehensive guide we will cover the following topics. What is Cyprus permanent residency. Types of permanent residency in Cyprus Cyprus permanent residency by investment Residency with the right to work. Cyprus permanent residency benefits Cyprus permanent residency requirements [...]

14

Nov '22

Cyprus work visa in 2022. How do I get a work visa in Cyprus?

Cyprus work visa Cyprus has one of the lowest tax rates in the EU has to offer and is one of Europe’s fastest growing economies. Living and working in Cyprus comes with a host of benefits. If you are a non-EU citizen who wants to work in Cyprus, you must first obtain a Cyprus work visa. Anyone traveling to Cyprus to work has to obtain the legal rights to do so. [...]

9

Nov '22

Temporary Residence Permit Cyprus in 2022. A comprehensive guide

Temporary Residence Permit Cyprus Any non-EU national who wants to live in Cyprus temporarily has to obtain a Temporary Residence Permit Cyprus (also known as Pink Slip). Before obtaining the permit, travellers must obtain an entry visa suitable for their stay in Cyprus. The type of visa will depend on the purpose of their stay, such as a work visa or a student visa. Once they are in Cyprus, obtaining a temporary residence permit allows the visitors to extend their stay for more than the duration of their visa (90 days). [...]

8

Nov '22

Building contractors insurance. A complete guide

Introduction to building contractors insurance Several types of insurance are designed to protect developers, property owners, and contractors through the many stages of construction projects. In most cases, specific construction insurance policies are required for many of these projects. In the following article, we'll explain what you need to know about building contractors insurance, the common types of policies available to you, and when you might need them. In addition to reading our guide about building contractors insurance, make sure you check out the reputable insurance companies we've listed at the end of this article. [...]

7

Nov '22

Course of construction insurance. A complete guide

Course of construction Course of construction is a specialized type of insurance policy that is designed to cover "all risks." These risks are typically associated with the hazards, accidents and incidents that might arise during the course of a construction project. Course of construction insurance usually includes various coverages in one policy. Moreover, two specific types of insurance are combined in a course of construction policy. We will cover everything you should know about course of construction insurance in our guide, including who requires this type of policy, and when it is commonly used. [...]

4

Nov '22

Construction all risk insurance. A complete guide

  Construction all risk insurance As suggested by its name, construction all risk insurance is an insurance policy that covers "all risks." These risks are normally associated with the hazards and incidents that might arise during the course of a construction project. Commonly issued under the joint names of a contractor and the client, or a business and its customer, all risk insurances usually include various coverages in one policy. [...]

3

Nov '22

Construction insurance. What is construction insurance?

Introduction to construction insurance Several types of insurance are designed to protect developers, property owners and contractors through the many stages of construction projects. Furthermore, specific types of construction insurance policies are required for many of these construction projects. In the following article, we'll explain what you need to know about construction insurance, the common types of policies available to you, and when you might need those policies. Whatever your reason for researching insurance for construction, make sure you check out the reputable insurance companies we've listed below. [...]

2

Nov '22

Pink Slip Cyprus in 2022. How to get pink slip Cyprus

Pink Slip Cyprus Any non-EU national who wants to temporarily live in Cyprus has to obtain a “Pink Slip” (also known as Cyprus temporary residence permit). Before obtaining the pink slip, travellers must get an entry visa. The type of visa is dependent on the purpose they have traveled, such as a work visa or a student visa. Once they are in Cyprus, the pink slip allows the visitors to extend their stay for more than the duration of their visa (3 months). [...]

2

Nov '22

Subcontractors insurance. What is subcontractors insurance?

Introduction Subcontractors insurance encompasses various business insurance coverages to suit small businesses and subcontractors. Insurance for subcontractors protects against financial losses and debts resulting from serious work-related accidents and emergencies. Our article will examine the following topics: What is subcontractors insurance? Who needs subcontractors insurance? Are subcontractors covered under the contractor’s insurance? What does subcontractor insurance cover? What kind of insurance does a subcontractor need? General liability insurance for subcontractors [...]

1

Nov '22

Contractors Insurance. What is contractors insurance?

What is contractors insurance? Overview The smooth running of a construction business doesn’t come without its risks. From large construction projects to minor home renovations, contractor insurance protects businesses from these risks while they do their job. Contractors insurance is an umbrella term that encompasses various business insurance coverages required from a contractor. Overall, contractors insurance is coverage that protects businesses from financial debts that can result from serious work-related accidents. [...]

1

Nov '22

Electrical contractors insurance. What is electrical contractors insurance?

Introduction to electrical contractors insurance Electrical contractors play a key role in our infrastructure, ensuring that homes and businesses have the necessary energy that they need to function. Some people who are drawn to the electrician profession opt to work with an existing business, while others decide to set off on their own as electrical contractors. Whichever role you consider taking or have, understanding the operating costs of running an electrical contracting business is essential. [...]

1

Nov '22

General liability insurance for contractors. What is general liability insurance for contractors?

General liability insurance for contractors introduction The smooth running of any business requires the peace of mind which is offered by general liability insurance. In this case, contractors and construction businesses need adequate protection as they face many risks. Whether you're meeting with clients on your business premises or working on a client's home, general liability insurance has you covered. Contractor insurance protects businesses from risks while they do their job, from major reconstruction projects to minor renovations. [...]

27

Oct '22

How Long Do Accidents Stay On Car Insurance? A Complete Guide

How long do accidents stay on car insurance? Car insurance premiums may increase as you age and become harder to obtain. However, you should always disclose your relevant information according to the law. Disclosing previous accidents is also necessary, even if this will increase the price of your car insurance. Whether the incident at hand was your fault or not, disclosing the accident may help you further down the road. [...]

27

Oct '22

What is twisting in insurance? Everything you need to know

Introduction. What is twisting in insurance? In short, twisting is the act of inducing or attempting to induce a policy owner to drop an existing life insurance policy. This act is intended to entice the insured to take out another policy that is substantially the same by using misrepresentations or incomplete comparisons of the advantages and disadvantages of the two policies. Insurance policies such as life insurance policies are dynamic and constantly changing to include benefits and more options to make them versatile for policyholders. [...]

26

Oct '22

Does Liability Insurance Cover Theft? Everything You Need To Know

Does Liability Insurance Cover Theft Overview Does liability insurance cover theft? Unfortunately, many of us have had to ask ourselves that question from experience. It’s bad enough to be at the location where you last parked your car only to find out it’s been stolen. Then, not surprisingly, it’s even worse when you realize you don’t have the type of insurance to cover the loss. We cover more than liability insurance and car incidents such as theft at Pitsas Insurances. [...]

26

Oct '22

Is Life Insurance Worth It? A Comprehensive Guide About Life Insurance And Its Alternatives

Is life insurance worth it? If you currently have life insurance or are weighing up your options, you may wonder if life insurance is worth it. Life insurance can be a worthwhile investment in all circumstances. But there are some exceptions to this rule. A life insurance policy can payout more than many can afford to save in their lifetime. However, life insurance has its disadvantages and may not be the best option for everyone. [...]

26

Oct '22

What is Face Amount in Life insurance? Everything you need to know.

Overview The face amount in life insurance is the sum equated to the life insurance policy's worth, also known as the death benefit or the face value of life insurance. In short, the face amount is the sum of money owed to your chosen beneficiary when the policy expires. In this article, we will cover face amounts in life insurance. What is face amount in life insurance? Your face value, or face amount, is the sum of money your beneficiaries will be owed at the time of your death. [...]

25

Oct '22

Car Insurance Refunds. Everything You Need To Know

Car insurance refund overview You may be due a car insurance refund and require this information if you changed your car insurance policy, decide to cancel your policy, or if your insurance agent has cancelled or renewed your policy. In this article, we will cover everything you need to know about car insurance refunds. Do you get a refund if you cancel car insurance? In short, yes, you will usually get a refund if you cancel your car insurance. [...]

25

Oct '22

How Do Life Insurance Companies Make Money? A Comprehensive Guide To Life Insurance

Overview It’s no secret that life insurance companies make money. Insurers make millions of profits on their corporate tax returns year after year. The profitability of life insurance companies often leaves people wondering how they make their money, and the answer to that can be found by examining how life insurance works. Topics included in this article: How life insurance companies make money. How life insurance works. Types of life insurance. [...]

24

Oct '22

What Is Direct Term Life Insurance? Everything You Should Know

What is term life insurance? Term life insurance is a type of death benefit that pays the policyholder’s heirs throughout a specified period. Once the specified period and policy expires, the policyholder can either renew their policy, or convert the policy to permanent coverage. Term life insurance is distinct from life insurance. Life insurance offers different coverage, and it can be a lifetime policy. In contrast, term insurance tends to be shorter-term and is also the most affordable type of insurance. [...]

24

Oct '22

What Is Voluntary Accident Insurance?

Overview In this article, we will cover voluntary accident insurance in-depth, and group coverage with comparisons between the options of insurance types. The topics we will cover are as follows: What is voluntary accident insurance? Types of voluntary accident insurance. Group Critical Illness Insurance. Group Life Insurance. Voluntary Accident Insurance Cost. What is the difference between group life and voluntary accident insurance? Voluntary Accident Insurance Quotes. What is voluntary accident insurance? [...]

24

Oct '22

What is a car insurance declaration page? A comprehensive guide

Overview When you are searching for a car insurance declaration, we understand you may have questions about the process of finding and deciding which insurance is best for you. In this article, we have covered the most frequently asked questions about car insurance declarations, deductibles, and policies. Topics of discussion are as follows: What exactly is a car insurance declaration page Why you need an insurance declarations page How to get an insurance declarations page What is a car insurance policy What does car insurance cover Is a proof of insurance the same as a declaration page What is a certificate of insurance What is an insurance deductible How to choose car insurance Where to get a car insurance quote What is a car insurance declaration page A car insurance declarations page is a succinct summary of your policy provided by your insurance company. [...]

20

Oct '22

Cyprus Student Visa in 2022. How to get Cyprus student visa?

Cyprus student visa If you are a non-EU citizen travelling to Cyprus to study, you will need to apply for a Cyprus student visa and a temporary residence permit. Student visas can be obtained in your home country. You should get a student visa before arriving in Cyprus. This visa will allow you to legally enter and live in Cyprus for 3 months. If your program of study is a long course and lasts longer than 90 days, you must obtain a temporary residence permit after your arrival. [...]

20

Oct '22

How does Critical Illness Insurance Work? A Complete Guide

Critical illness insurance covers all the illnesses mentioned in the policy. It begins the day the waiting period ends and can be renewed until the maximum renewable age, which is the maximum age beyond which you won’t be able to renew your CI insurance policy. At Pitsas Insurances, we offer two CI insurance policies. The basic plan covers almost all the common illnesses and the premium plan offers coverage for 32 illnesses. [...]

19

Oct '22

What illnesses are covered by critical illness insurance? A complete guide

Critical illness insurance covers all the illnesses mentioned in the policy. The coverage begins from the disease's diagnosis and includes everything that comes after, including the illness’s treatment, hospital visits, medicine purchases, hospital bills, and more. At Pitsas Insurances, we offer two critical illness insurance policies. The basic plan covers the most common ailments and thus weighs lighter on the pocket. Our premium package is much more comprehensive as it covers 32 different conditions. [...]

18

Oct '22

Business Interruption Insurance in Cyprus in 2022. A Comprehensive Guide

A fire in the building where your offices are located. A government-mandated closure of the road that clients use to reach your premises. A tree falling on the roof of your office. Such events can force you to temporarily shut down your business and lose income. However, just because you’re temporarily closing your company doesn’t mean you must also say goodbye to the revenue it would have collected during that period. [...]

18

Oct '22

Roofing insurance. A comprehensive guide

Roofing insurance Roofing contractors face daily risks and various kinds, varying from damages to client property and faulty installations to third-party injuries. Considering their working circumstances, roofing contractors are involved in potentially dangerous situations every day, many of which are not covered under standard insurance policies. As these accidents often result in claims not covered by standard contractors insurance, roofers must have the correct coverage to protect themselves. Furthermore, they will protect their business and their clients from harm. [...]

18

Oct '22

What is Business Interruption Insurance? Definition of Business Interruption Insurance

Business interruption insurance can replace lost income when a covered event forces you to temporarily shut down your business. The covered events vary policy by policy, but usually include fire, theft or vandalism, as well as natural disasters such as lightning, wind or water. Business interruption insurance helps you in more ways than one. By replacing the income you have lost by temporarily closing down your business, it helps ensure that the short-term closure doesn’t turn into a permanent one. [...]

4

Oct '22

Contractors public liability insurance. A complete guide

Contractors public liability insurance introduction Contractor insurance protects businesses from risks known in the construction trade, offering contractors and tradesmen peace of mind to continue doing their work. Contractors public liability insurance has you covered whether you're meeting with clients on-site or working on a client's home. This coverage ensures protection from major reconstruction projects to minor renovations, and it's a necessity for many types of businesses. To be adequately covered, a contractor should have general public liability, workers' compensation, and other customized coverages that we will highlight in this article. [...]

30

Sep '22

Yellow slip Cyprus in 2022. A comprehensive guide

Yellow Slip Cyprus EU nationals need to apply for a "Registration Certificate" to live and work legally in Cyprus, commonly known as Yellow Slip Cyprus. The aptly named 'Cyprus Yellow Slip' is printed on yellow paper. It's available to European (EU and EEA) citizens who wish to extend their stay in the Republic of Cyprus for specific reasons. This comprehensive guide will examine the Yellow Slip Cyprus in 2022. [...]

8

Sep '22

Cyprus work permit in 2022. Cyprus work permit requirements

Cyprus work permit Any non-EU national who wants to live and work in Cyprus has to obtain a Cyprus work permit. Before obtaining a work permit, travelers must obtain an entry visa suitable for their stay in Cyprus. In this case, those seeking employment must travel on a work visa. This comprehensive guide will cover everything related to the Cyprus work permit in 2022, including requirements to obtain a work permit Cyprus and how you can apply for it. [...]

5

Sep '22

Commercial General Liability Insurance in 2022: A Complete Guide

Commercial general liability insurance is a form of business insurance that offers coverage against claims of injury, property damage, and illness filed against your organization. It mainly comes in handy to cover claims filed by members of the public against your business. These claims could be as severe as a child hurting themselves with a defective toy you sold. Or they could be as benign as you accidentally spilling tea over a client's laptop. [...]

5

Sep '22

Does Insurance Cover Medical Marijuana?

Does insurance cover medical marijuana? The short answer is no. Most insurance companies – whether public or private – won’t pay for medical marijuana recommendations. That means you don’t have much choice but to pay for your medical cannabis out-of-pocket. This might seem confusing given that 37 states have already legalized the use of medical marijuana. But it is true. Cannabis is a Schedule 1 drug at the national level, meaning the federal law handles cannabis as a substance that could be abused or cause addiction. [...]

5

Sep '22

Retroactive Insurance Coverage: What is Retroactive Coverage?

Retroactive insurance coverage refers to cover for services undertaken before the policy start date. It determines the earliest point in time from which the insurance cover applies. Any losses or incidents that occurred before this point won’t be covered by your policy. Having said that, some policies give you the option to purchase retroactive insurance to get a cover for losses incurred before a specific date. Here’s what we’ll discuss in this article: [...]

5

Sep '22

What does Critical Illness Insurance Cover? Everything You Need to Know

Critical illness insurance covers severe medical conditions and critical illnesses mentioned in the policy. This form of insurance covers everything related to the disease’s diagnosis and treatment, such as doctor visits, medicine purchases, treatment costs, hospital bills, etc. Pitsas Insurances provides two CI insurance policies. Our basic package covers the most common health conditions, including heart attack, cancer, organ transplantation, kidney failure, and more. The premium package covers all these conditions plus 26 more. [...]

31

Aug '22

Commercial Crime Insurance in 2022

Purchasing commercial crime insurance should be the top priority of every organization. Especially those in which employees handle financial transactions and records. Or in which employees are trusted with copyright material, valuable client property, and sensitive documents. A commercial crime policy protects organizations against various crimes, such as employee dishonesty, computer fraud, ransom or extortion, cyber-attacks, counterfeit money, and more. Having commercial crime insurance could thus help companies avoid potentially huge losses. [...]

8

Aug '22

Saving Funds in Cyprus

1.The Categories of the Funds Savings funds in Cyprus can be classifed into three categories according to the level of risk they entail: Conservative - Low-risk funds Moderate - Medium-risk funds Aggressive - High-risk funds 1.1. Low-Risk Funds Low-Risk Funds are the most popular option in Cyprus, since they mostly invest on saving or investment products that carry low investment risk, such as cash funds, certificates of deposits, government bonds of western economies (>AA+) and corporate bonds from big companies (blue chips). [...]

8

Aug '22

Saving Insurance - Private Pension - Tax Exemptions in Cyprus

1. Introduction Savings insurance and private pensions are the only non-government saving plans accepted by the Cyprus tax authorities as being valid tax exemptions. All owners of companies that are tax residents of Cyprus, as well as highly paid employees registered in the Cyprus Social Insurance system, can benefit from the exemptions. Apart from offering significant tax deductions, a private pension can ensure a lower risk and a higher net return compared to certificates of deposits. [...]

8

Aug '22

Tax Calculator for Natural Persons in Cyprus

A tax calculator is based on the following principles: ● The sum of tax reductions (namely, social insurances, savings insurance premiums, GHS - GESY contributions etc.) should not surpass 20% of income. ● In the case of natural persons, savings insurance should come with an obligatory life insurance. As an approximation, the insured capital should be at least 13 times the insurance premium (e.g. if the premium is 10,000, the insured capital should be at least 130,000 euro). [...]

8

Aug '22

Tax on interest income in Cyprus in 2022. Special Contribution for Defence

Bank deposits’ interest in Cyprus is subject to a 30% yield tax called special contribution for defence. The yield of bank deposits is either negative or very close to zero due to the expansionary monetary policy of the European Central Bank (ECB). Inflation skyrocketing in 2022 will force the ECB to raise the basic interest rate to over 1%, but this is not expected to also significantly increase the savings interest rates of bank notes. [...]

8

Aug '22

Terms and Conditions of Savings Insurance - Private Pensions in Cyprus

The main terms and conditions of savings insurance plans are mentioned below in brief. 1.The minimum insurance premium is 35 euro on a monthly basis and the minimum insured capital is €1,000. 2.In case the company is insured, the contract has €1,000 as the minimum insured capital amount. 3.Savings insurance can be paid annually (via bank transfer) or on a monthly basis using direct debit. 4.The maximum age acceptable for signing a contract is 70. [...]

8

Aug '22

The benefits and risks of savings insurance in Cyprus

1. The benefits 1.1. Reduced risk - Risk diversification Savings Insurance manages a particularly successful risk diversification, such that no independent investor could accomplish alone. Savings insurance funds place investors’ assets in multiple certificate of deposits in triple A banks institutions in the USA, Germany, UK and Switzerland. Funds of a clear investment nature invest investor’s money on bonds and stocks from different industries and countries. This practically means that the safety of the contracting party’s savings does not depend on the credit rating of any individual organisation, industry, or country. [...]

21

Jul '22

Marine Cargo Insurance in Cyprus in 2022: everything you need to know

The word ‘marine’ in marine cargo insurance is a misnomer. It indicates to the uninitiated that this type of insurance only covers goods transported by water. Where in reality, marine cargo insurance covers goods being shipped by sea, air, road, or any other mode of transportation. Marine cargo insurance is a must-have for cargo owners, shipping corporations, and ship owners to protect their interests. Furthermore, in most cases, the export contracts require the exporter to obtain marine cargo insurance. [...]

20

Jul '22

What is Personal Accident Insurance? Personal Accident Insurance in Cyprus in 2022

Personal accident insurance is a type of insurance that offers you financial compensation should you suffer an accident that leads to injury, disablement, or death. One of its main benefits is that it is applicable everywhere in the world, meaning that unlike many other types of insurances, you will be covered no matter where the accident happens. Three types of events are covered by personal accident insurance. These include temporary disability, permanent disability, and death. [...]

21

Jun '22

Car Insurance Deductible: What is a Deductible in Car Insurance?

What is a car insurance deductible? It is the amount you must pay whenfiling an insurance claim. For instance, if your standard deductible is €400 and your repair bill is €3,000, you’ll have to pay €400, with the insurance company paying the remainder. Bear in mind that the deductible only applies under certain conditions. For instance, you must pay it when you or someone who is covered by your insurance is driving your vehicle, and you or they have caused the accident. [...]

15

Jun '22

What is Travel Insurance? Best travel insurance in Cyprus in 2022

What is travel insurance? It is a type of insurance that offers financial protection against different risks associated with traveling. It covers medical emergencies, flight cancellations, lost luggage and various other losses that anyone can incur while traveling. [Travel insurance](https://www.pitsasinsurances.com/en/article/travel-insurance-general-info/) usually kicks off from the day you begin your journey and ends the day you have reached your destination. You can purchase travel insurance policies for domestic as well as international trips. [...]

18

May '22

MetLife Pet Insurance Review in 2022. Good for Pet Parents on a Budget

MetLife Pet Insurance offers multiple perks to attract pet parents. It places no restrictions on eligible breeds, covers dogs and cats 8 weeks and older, and offers 100% reimbursement. Best of all, the accident coverage begins at midnight the day you sign up for the policy. On the flip side, treatments or services provided outside the United States aren't covered. This might worry pet parents who regularly travel internationally. Also, unlike some of its competitors, it doesn't provide a plan for unlimited annual benefits. [...]

18

Mar '22

Business Insurance for small and medium-sized businesses

What is business insurance? Business insurance is a product with which you can preserve your capital and continue operations without financial loss. Suppose you've created your life's work, built up a good customer base, and are creating competition for other companies. In that case, it's worth taking care that it doesn't collapse in an instant due to unforeseen circumstances. Of course, many young entrepreneurs try to save their own money and don't believe there could be a fire, an accident, or someone cheating on their money. [...]

10

Mar '22

Information Security and Data Protection

Are you aware that someone may be trying to steal your personal information? Like your first name, last name, photo, date of birth, address, etc. All the things you have written on your passport. And also, your school and class number. Well, in general, anything that allows you to identify a person. Why would they need that? Well, for example, attackers can create a copy of your page on social media and write different comments on your behalf, or even take out a loan, spend the money, get away with it, and leave the loan upon you. [...]

29

Dec '21

Markel

Markel was founded in 1930 and has its headquarters in Richmond, Virginia. It is one of the largest reinsurer companies in the world with core business the provision of insurance services to IT companies. In 2018 the company’s total operating revenues surpassed $6 billion while its invested assets were $19.2 billion in the same year. It has 80 offices in 18 counties and employs 17, 400 associates. Markel is listed No. [...]

28

Dec '21

What is Business Insurance?

Business insurance is a comprehensive insurance contract that protects a company from losses and damages that may arise in the course of its business activities. This article is available in Russian at the following link: Что такое бизнес-страхование? Pitsas Insurances Cyprus, Limassol

22

Dec '21

What is critical illness insurance? Critical Illness insurance in Cyprus in 2022

Critical illnesses are life-threatening illnesses that can cause significant damage to your life and health, Critical illness insurance offers you financial compensation if you are diagnosed with a medical condition or critical illness covered under the policy. It is a tax-free, one-time lump sum payment that covers your entire treatment, should you need it. When purchasing a critical illness policy, you must decide for how long the cover will last. [...]

21

Dec '21

Cyprus Health System

Cyprus health system is divided into the public and private sectors. The public health insurance system is regulated by the Ministry of Health and is funded by taxes. Pitsas Insurances Cyprus, Limassol  

21

Dec '21

What is Investment Life Insurance?

Investment insurance is life insurance with an excellent opportunity to manage your savings by investing yourself. By choosing this life insurance, you take care of your loved ones and save for the future, making investments when the investment risk falls on you. Pitsas Insurances Cyprus, Limassol

20

Dec '21

Investment life insurance programs in Cyprus

Since 2014, Pitsas Insurance has been preparing analytical reviews that present the main life insurance products in Cyprus in comparison with the corresponding programs taking place in foreign countries. This article is available in Greek and Russian. Pitsas Insurances Cyprus, Limassol

14

Dec '21

Interesting facts about life and health insurance

This article is available in Russian at the following link: Интересные факты о страховании жизни и здоровья Director of Pitsas Insurances, Antonis Theofanus December 14, 2021 Limassol, Cyprus

7

Oct '21

ALC Health

For more than 15 years, ALC Health has been looking after the health of individuals, families and multinational companies across the world with a range of flexible and innovative international health insurance plans. The company combines a wide range of language skills with an extensive knowledge of regional cultures thus providing local knowledge and global support expertise to its clients in more than 140 countries. It specializes in international medical insurance, assistance services, expatriates, and travel insurance. [...]

7

Oct '21

Aetna

Aetna is a healthcare insurance company that was founded in 1853 in Hartford, Connecticut and sells health care insurance and related services. The company's network includes 22.1 million medical members, 12.7 million dental members, 13.1 million pharmacy benefit management services members, 1,200,000 health-care professionals, over 690,000 primary care doctors and specialists, and over 5,700 hospitals. For the last 25 years, Pitsas Insurances has been effectively promoting Aetna’s Group Medical Insurance in Cyprus, thus offering its clients access to high-level medical services. [...]

7

Oct '21

Bupa

  Established in the United Kingdom in 1947, Bupa has since grown to provide healthcare to more than 14 million customers in more than 190 countries all over the world (2019). Bupa is famous for its high-quality medical insurance plans and its outstanding service. For the last 10 years, Pitsas Insurances has been effectively promoting Bupa’s Group Medical Insurance in Cyprus, thus offering its clients access to high-level medical services. [...]

7

Oct '21

Cigna

Cigna was founded in 1792 as Insurance Company of North America. It is a health services organization based in Bloomfield, Connecticut and Philadelphia, Pennsylvania. The company has more than 165 million customer and patient relationships in more than 30 countries and jurisdictions and a global workforce of more than 74,000 employees. Cigna ranked 65 on the 2019 Fortune 500 List. For the last 5 years, Pitsas Insurances has been effectively promoting Cigna’s Group Medical Insurance in Cyprus, thus offering its clients access to high-level medical services. [...]

7

Oct '21

Metlife

Metlife was founded in 1868. This company is one of the biggest insurance companies in providing life insurance policies. With 100,000.000 clients in more than 40 countries and with an experience exceeding 150 years, Metlife has achieved a dynamic presence all over the world (2019). MetLife Europe d.a.c. has been carrying out operations in Cyprus since 1955. For the last 25 years, Pitsas Insurances has been effectively promoting Metlife’s Group Medical Insurance in Cyprus, thus offering its clients access to high-level medical services. [...]

7

Oct '21

PIMCO

Launched in 1971 in Newport Beach, California, PIMCO (Pacific Investment Management Company) is a leading global investment management firm focused on active fixed income management. PIMCO manages assets of $1.88 trillion entrusted to them by sovereign wealth funds, commercial and investment banks, public and private pension funds, insurance and reinsurance companies, multinational companies and HNWI from all over the world (2019). With 17 offices spanning three continents and more than 2,800 employees, PIMCO aims to deliver innovative solutions with strategies not restricted by asset classes, sectors and geographic borders. [...]

7

Oct '21

Vanguard

The Vanguard Group is an American registered investment advisor based in Malvern, Pennsylvania with offices in Australia, Asia, and Europe. With over $5.3 trillion in assets in management, The Vanguard Group is the largest provider of mutual funds and the second-largest provider of exchange-traded funds in the world (2019). In addition, the company offers brokerage services, variable and fixed annuities, educational account services, financial planning, asset management, and trust services. For the last 25 years, Pitsas Insurances has been effectively promoting The Vanguard Group’s investment funds in Cyprus, giving access to investors in international markets to one of the most credible investment providers in the world. [...]

6

Oct '21

Our partners

Markel Markel was founded in 1930 and has its headquarters in Richmond, Virginia. It is one of the largest reinsurer companies in the world with core business the provision of insurance services to IT companies. In 2018 the company’s total operating revenues surpassed $6 billion while its invested assets were $19.2 billion in the same year. It has 80 offices in 18 counties and employs 17, 400 associates. Markel is listed #441 on the 2019 Fortune 500 List. [...]

8

Sep '21

How to become a resident of Cyprus in 2022? Series of articles

Article 1. Introduction. The path from tourist to resident Being a tourist in any country is always a great experience, even a short visit will provide you not only with positive experiences, but also leave you well rested and allow you to take a break from the daily routines. But what happens if you decide to stay in the country you came to enjoy so much for a longer period? [...]

6

Sep '21

How to become a resident of Cyprus in 2022, Part 2

Article 2. Registration of foreign citizens in Cyprus. Residence permit In this article, we will provide you with some information the process of foreign citizens registering in Cyprus, and how to acquire a residency permit. This is the second installment of the series “How to Become a Resident”, the full list of articles can be found at the following link: Article 1. Introduction. The path from tourist to resident. [...]

5

Sep '21

Cyprus Pension Programs. Expected changes in the legislation

Cyprus pension programs Youth and health are not eternal. Each of us must do everything possible to secure a decent future for himself and his loved ones. Nevertheless, the financial stability and well-being that should accompany you after retirement cannot be achieved overnight. Existing government pension programs, as good as they are, cannot provide their beneficiaries with pensions that will allow them to live according to their real needs. In particular, according to Eurostat, Cyprus have one of the lowest pension levels in Europe. [...]

4

Sep '21

The procedure for use and exchange of foreign driving licenses in Cyprus

Foreigners arriving in Cyprus can drive vehicles using a valid international driving license or national driving license, provided that this license is valid for the class of the vehicle they wish to drive. However, after a certain period of time, the driving license of most foreign countries must be replaced with a Cypriot driving license. Use of a foreign driving license in Cyprus In terms of use and exchange, foreign driving licenses can be divided into 3 categories: [...]

30

Aug '21

What is keyman insurance

A company's greatest asset is undoubtedly its staff. While every person plays an important role in a business though, there are always certain members of staff whose absence could be highly detrimental to the company's success. This is why a Keyman or Key person insurance policy may be the greatest investment you could make. Keyman insurance is an insurance policy specifically designed to help a business recover in case it loses a key person who is considered invaluable for its running and growth. [...]

30

Aug '21

How to Choose Car Insurance

Insuring your car is required by law and while it constitutes a significant expense that many justifiably try to reduce, even a minor accident can soon make us realise how important insurance can be. Despite that, most of us wait until the last few days before it expires to do some research, and that is usually only related to car insurance prices. In most cases, this is hardly enough to help us realise if we've got the right coverage for us. [...]

27

Aug '21

Renters Insurance - What is it and Who Needs it

Imagine going away on holiday for a week, only to return to the home you are renting and find it has been broken into. Your TV, laptop, and jewellery is gone, and some of your furnishings have been broken. Could you afford to replace it all by yourself? If your answer to that question is no, then you need renter's insurance. Renter's insurance is a type of property insurance providing coverage to persons renting or subletting a home or apartment. [...]

27

Aug '21

All Risks Insurance

Imagine spending your time and savings renovating your home, only to have it flooded due to an unexpectedly powerful storm during the winter. What do you do? How do you ensure that your insurance will cover your damages? That's when all-risk insurance comes into play on your policy. 'All risks' refers to a kind of insurance coverage that automatically covers all risks and perils (i.e. property damage/loss arising from accidents or unforeseeable incidents), except for those that are specifically excluded in the contract. [...]

25

Aug '21

Group Insurance

In today's competitive climate, what is it that makes a company stand out from the rest? What can it do to ensure it attracts and retains high-caliber employees? There is perhaps no better way for employers to demonstrate they care for their employees than to offer them group insurance schemes. Group insurance provides coverage for groups of employees at a company or members of an organisation at a more affordable price than individual medical policies. [...]

21

Aug '21

Business Insurance (FAQ)

Whether you're just thinking of starting your own business or you already own one, it can feel exciting and daunting at the same time, since you are investing both your time and money and need your venture to go well. To protect your investment, business insurance can offer you coverage that will protect you when the unexpected occurs. 1.Why do I need insurance for my business? Starting your own business always entails some degree of risk, and as an entrepreneur you need to make sure your company's assets are protected. [...]

16

Aug '21

Public Liability Insurance (FAQ)

In a world where public health and safety are becoming more and more a priority, if your work requires you to work with members of the public, whether that is on site, in other people's homes or your own premises, public liability insurance is essential. 1.What is Public Liability Insurance? Public Liability is a type of business insurance that covers businesses across industries if a client or member of the public claims to have been injured or had property damaged due to their activities. [...]

14

Aug '21

Criminality in Cyprus

When you're planning to travel to a country, whether that is to visit it as a tourist or to move there permanently, one of your main concerns should be how safe it will be as a destination. You should have no such concerns when coming to Cyprus, since it is consistently ranked as one of the safest countries in the world.  In fact, in early 2020 travel insurance comparator Insurly issued a safety index, allowing you to assess the level of risks you might face when venturing to a country abroad, and Cyprus came in 5th worldwide. [...]

13

Aug '21

Travel Insurance

  More and more people travel around the world every year and while traveling can be an exciting adventure for most, it can turn sour quickly if things go wrong. To prevent this from happening, travel insurance can cover a whole range of risk scenarios that could potentially put a damper on your trip. Travel insurance is a type of insurance plan you purchase before traveling that can cover the costs and losses you may suffer if something occurs during your travels. [...]

13

Aug '21

Income Protection Insurance

Many of us live payday to payday, with just enough savings to maybe get us through a few months without a steady source of income. Life can be very unpredictable, so how can you make sure you and your family are still financially secure if, for some reason, you cannot work for a period of time?  Income Protection insurance can become your safety net if you get ill or injured in an accident and become unable to work. [...]

11

Aug '21

What kind of insurance do I need if I rent out my house?

Do I need insurance if my residential property (country house, summer residence) is rented out? Almost all people dream of owning a second home or a country house. But just like the house in which you live, a country house requires maintenance and care costs, as well as third party liability insurance. The issues that arise out of providing residential real estate for rent and insurance of associated risks do not only concern the citizens of Cyprus as the owners of real estate, but foreign home owners as well. [...]

10

Aug '21

Life Insurance (FAQ)

Our loved ones are always a priority in our life. If you are worried about what would happen to those surviving you in case of death, getting Life Insurance should be a priority to ensure the ones you leave behind are at least financially secure. 1.What is life insurance? A life insurance policy is a contract between the policyholder and the insurer, wherein the latter promises to provide your beneficiaries with a sum of money upon your death, or pay off an existing mortgage. [...]

9

Aug '21

Public Liability Insurance - What is it and Who Needs it

If you are a business owner who likes to think ahead, you will want to be prepared for any eventuality, especially if your line of business requires you to deal with people on a daily basis. Accidents inevitably happen, and when they do, Public Liability insurance can be the only thing protecting you from the sometimes unbearable costs of legal claims against you. Public liability is a type of business insurance designed to protect and cover businesses across industries should a client or member of the public claim to have been injured or had their property damaged because of your business activities. [...]

7

Aug '21

Money Insurance

From profits to costs, monetary transactions affect every area and are crucial for business operations. If your business regularly handles large amounts of cash, however, you definitely need to consider how it would be affected should that money be lost or stolen. No matter how careful you are, there is always a risk when you transfer funds, whether that is through cheques, postal orders, drafts or cash. A Money Insurance policy can help set your mind at ease. [...]

7

Aug '21

Crime Insurance

The word 'crime' is one that rings differently for each person, especially when it comes to business. While businesses only used to be in danger of in-person theft and robbery in the past, that was slowly overtaken by white collar crime events and in the more recent years, cyber crime. No matter the size, territory and business sector, however, all organisations are vulnerable to risk of fraud. Fraud can take many forms - the theft or unauthorised transfer of cash, stocks, or other assets; forgery or alteration of negotiable instruments; receipt of counterfeit currency; computer hacking and related cyber fraud - and can continue for many years before it is discovered, often causing devastating damage to your business and its reputation. [...]

6

Aug '21

Media Liability Insurance

One way or another, almost all businesses need to produce and broadcast or publish media content. The advent of the Digital Age has opened up new forms of communication and anyone with access to a social media account can now become a content creator. This expanded exposure, however, means that any kind of communication outlet could be at risk from liability claims for things like libel, intellectual property claims or invasion of privacy. [...]

5

Aug '21

Critical Illness (FAQ)

Nobody likes to think of the worst case scenario, but the truth is that serious illnesses have become a part of reality for many people around the world. Though lesser known than Life or Health Insurance, in the event of a major health emergency, Critical Illness insurance might be the only thing standing between you and financial ruin. 1.What is Critical Illness Insurance? In short, Critical Illness insurance will provide you with a lump sum of money should you be diagnosed with certain long-term and serious conditions such as a heart attack or stroke, or diseases like cancer, multiple sclerosis or Parkinson's disease. [...]

4

Aug '21

Watercraft Insurance FAQ

Whether you're a boat, yacht or pleasure craft owner, the importance of having it properly insured cannot be stressed enough.  1.What do Boat Insurance policies usually cover? The vessel's value and size, as well as where and how you use your boat will usually determine the kind of coverage you need. The types of loss you want to be insured for can also determine your policy terms. Liability insurance, for example, will cover the boat owner for damage caused to other boats or injuries caused to others. [...]

4

Aug '21

Life and health insurance: what will not be covered by your insurance policy?

In our work we are often faced with questions from the clients about the exclusions present in their life and health insurance policies. As sane people they are absolutely sure that every rule has at least one exclusion, and no protection in the world (including insurance) can be absolute. Our clients want to know exactly what will happen to their insurance coverage in a given situation, and our duty is to provide them with complete and comprehensive information on this issue. [...]

29

Jul '21

Group Insurance (FAQ)

When employees need to take time off due to health issues, it may have a major impact on your business. Group Health insurance is designed to help people get back to work as quickly and effectively as possible. 1.What is Group Health Insurance? Group health insurance provides quality healthcare coverage to the employees in a business or organisation. It is designed specifically around the needs and requirements of employees and covers any hospitalisation expenses they may incur, as well as various other healthcare costs defined in the policy. [...]

29

Jul '21

Marine Cargo Insurance (FAQ)

While the word 'marine' inevitably conjures up images of the sea, Marine Cargo insurance is not restricted to the movement of cargo across the seas.  1.What is Marine Cargo Insurance? In simple terms, it is the insurance of property from any loss or damages it may incur as it moves from place to place. While the name of the policy based on the Marine Insurance Act 1906 does specifically refer to 'marine losses' and 'maritime perils', since international travel ofter requires the use of more than one type of transport to ensure the cargo reaches its destination, Marine Cargo insurance also makes provisions for aircraft, road, and rail vehicles. [...]

26

Jul '21

Personal Accident Insurance (FAQ)

Accidents are a part of life and may happen at any time, but they may also leave you unable to work and provide for your loved ones. A Personal Accident Insurance policy may help you get back on your feet.   1.How is an accident defined? An accident can be any sudden, unintended external event which might cause an individual bodily harm and lead to a temporary or permanent physical disability or death. [...]

20

Jul '21

Keyman Insurance (FAQ)

Would your business survive if a key member of staff suddenly passed away? This is probably the worst-case scenario for most, but it is a fact that the sudden death or long-term absence of a vital employee could be destructive for a company's success. This is where Keyman insurance comes in.   1.What is Keyman insurance?  Keyman or key person insurance is purchased by a business in order to insure the life of who they consider their most valuable employees. [...]

20

Jul '21

Employers' Liability Insurance FAQ

When you have employees, their health and safety while at work should be of the utmost importance. To ensure that, all employers are required by law to obtain an Employers' Liability insurance so as to be covered in case there is a work-related injury or illness. 1.What is Employers' Liability insurance? Employers’ Liability is a key type of insurance which safeguards businesses and any other type of employers from legal liability and damages if any of their employees sustains bodily harm, illness or fatal injury in the course of their employment. [...]

19

Jul '21

Professional Indemnity Insurance FAQ

Though the term was previously reserved for more mainstream professions, a 'professional' is now regarded as any person who offers specialist advice or services to another. As the definition has expanded, so has the possibility for making mistakes during work and consequently causing financial loss.This is where Professional Indemnity Insurance comes in to protect you.   1.What is Professional Indemnity (PI) insurance? Professional Indemnity Insurance is a policy designed to protect business owners, freelancers and the self-employed in case a client claims their services were subpar and decides to sue. [...]

19

Jul '21

Directors and officers liability insurance (FAQ)

Directors & Officers Liability insurance (also referred to as D&O insurance) offers essential coverage for companies and non-profit organisations of all sizes against legal claims made by clients, investors, employees and other parties. Here are some of the most common questions about it answered.   1.What exactly is D&O Insurance? Directors & Officers Insurance covers legal liabilities and assets in case the directors and officers in a company are sued because of alleged or actual wrongful acts committed within their positions. [...]

12

Jul '21

A decade of cyber attacks: the biggest hacks of 2011-2021

With more than half the world population now online and roughly a million more joining the internet each day, it is no wonder that cyber crime is also rapidly on the increase. The digital nature of virtual technologies used by people on a daily basis makes them vulnerable to cyber attacks that can take a multitude of forms - from data breaches and ransomware to the large-scale overtaking of systems with potentially devastating consequences. [...]

12

Jul '21

Home Insurance, or how to protect your house and property against theft

Home insurance is the most effective way to protect your home. Unfortunately, burglary and crime in general have significantly increased in Cyprus since joining the EU in 2004. The main reason behind that is that Cyprus has become a particularly attractive destination for foreign nationals looking to have a second home in Cyprus. Most foreign nationals stay in Cyprus for only a short period of time, making their homes easy targets for thieves. [...]

12

Jul '21

Traffic Laws - Violations, Penalties and Penalty Points

In this article by Pitsas Insurance, you can find a list of punishable traffic violations, as well as the corresponding penalties and fines which are then applied by the Cyprus Police to offenders. This list is not an exhaustive one but can serve as a guide for the most common and frequently occurring violations and their consequences. Before reading further, we would like to emphasize that the frequency in which offenses are taking place on the roads, around the world and particularly in Cyprus, has become quite serious in recent years. [...]

9

Jul '21

Boat insurance

If you own or operate a boat, yacht or another marine vessel, marine insurance can cover your risks of loss, damage, theft or breakdown of your vessel, harm to its passengers, as well as costs associated with causing harm to the health and property of third parties as a result of an accident. In this article we would like to tell you about the main parameters and features of marine insurance that you may encounter in the process of choosing the insurance policy you need. [...]

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